Sensex, Nifty look headed for flat close

With stocks struggling to hold early gains, the market looks headed for a flat close today. Though a few frontliners from across various sectors have moved higher on stock specific stories, the overall mood in the market has turned quite cautious after initial buoyancy.

With the reporting season over, investors are now looking forward to what the Union Budget will present for the near to medium term. FIIs, who were buying quite consistently over the last several weeks, turned net sellers on Tuesday.

The statement from Commerce and Industry Minister Anand Sharma that the country is unlikely to achieve its export target of $350 million for the current year, too appears to have dampened sentiment to an extent.

The Sensex is now up 17.72 points or 0.1% at 19,653.45. The Nifty is up 7.30 points or 0.12% at 5947.